The quantity of oil shipped through Georgia to Turkey declined to 132.6 million barrels from January to August this year, down from 146.8 million barrels the same period last year.

According to UNCTAD, the FDI flows to the transition economies of South-East Europe and former Soviet republics declined by 58 percent to $24 billion in 2020. FDI grew only in Belarus, Kazakhstan and Montenegro.

The South Caucasus country's Economy Ministry has presented a project, which envisages the allocation of loans of up to 10 million lari ($3.2 million) to companies focused on exports.

The village is at least 500 years old. By having it built so high in the mountains, its first residents wanted it to be as hard to reach as possible. The remoteness was supposed to keep invaders at bay.

The agency said that the bank would likely maintain its stable funding profile and liquidity position as it remained an important financial institution for the government.